Greek econ­omy to shrink 2.3% in 2015, 1.3% 2016: EU sources

The Pak Banker - - BUSINESS -

BRUS­SELS: Greece will tum­ble back into deep re­ces­sion this year and next, EU sources said Wed­nes­day as Athens im­ple­ments a tough third debt res­cue ham­mered out with its in­ter­na­tional cred­i­tors. The Greek econ­omy, which crawled out of a six-year re­ces­sion only in 2014, will shrink 2.3 per­cent in 2015 and another 1.3 per­cent in 2016, the sources said, as the author­i­ties push through a bailout aimed at help­ing Athens stay in the eu­ro­zone.

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